Industry Research

Increased Chinese Business Travel To Benefit U.S. Companies

China has surpassed the U.S. in the amount of money spent on business travel, and industries ranging from planemakers to hotels to luggage companies are clamoring for a foothold in the massive new market.

In 2015, business travel spending by the Chinese reached $291.2 billion compared with the $290.2 billion spent by their American counterparts, according to a report from the Global Business Travel Association.

Travel spending by Chinese companies is likely to continue rising this year, increasing 10.1% to $320.7 billion vs. the 1.9% uptick to $295.7 billion spent by U.S. companies.